South Florida home sellers cutting prices as market slows

More South Florida home sellers are cutting their asking prices — another sign that the housing fireworks of the past have faded and buyers are starting to push back.

While demand remains robust for homes in the $150,000 to $300,000 price range, industry analysts and real estate agents say many sellers in higher price ranges who were used to asking for the moon now realize they have to be more realistic in an era of steady but not stupefying price gains.

At the end of September, 12.6 percent of listings in the tricounty region had to lower the price. This number is up from 11.5 percent a year ago and 7.3 percent in September 2012, according to the most recent data from real estate website Zillow.com.